According to the latest Napier & Blakeley Construction Costs Datacards, it has been challenging past 12 months for developers, builders, suppliers, sub-contractors alike.

Recently Johnny Woodhouse, State Director Victoria at MaxCap Group discussed in APJ’s Talking Property Podcast about rising construction costs and the impact on rise and fall contracts and traditional funding structures.

“With material costs for timber and steel experiencing general price rises of up to 40% and 50% respectively, with some specific price rises being well above those, all market participants have been struggling to keep ahead of the constant changes, which unfortunately has seen some builders and sub-contractors not survive,” N&B director Craig Smith said.

The latest data follow reports of rising number of building companies collapsing, the most high profile were Probuild and Condev earlier this year. This week Victorian builder Langford Jones Homes went into liquidation owing 250 creditors more than $10 million. It is the fourth building company collapse within the week.

Residential construction costs

N&B Construction Costs Datacards sourced from approximately 600 projects the company advised on last year shows Sydney is the most expensive city for a single home of up 250 sqm, costing between $1,375 and $2,200 per sqm, followed by Melbourne, Perth and Adelaide costing $1,600 to $1,900 per sqm, and South East Queensland $1,120 to $1,730 per sqm.

For high standard multi-storey apartments, Sydney again was the most expensive at $3,700 to $6,000 per sqm; followed by SEQ $3,060 to $4,360 per sqm; Melbourne $3,800 to $4,000 per sqm; Adelaide $3,600 to $4,000 per sqm; Perth $3,100 to $4,000 per sqm.

For high standard two-storey townhouse projects, Sydney cost $2,200 to $3,300 per sqm; Perth and Melbourne $2,200 to $2,800 per sqm; Adelaide $2,000 to $2,750 per sqm and SEQ $2,030 to $2,700 per sqm.

Office construction costs

N&B data shows the cost of a premium grade office of over 20-storey in Sydney was sky high, at $4,800 to $7,000 per sqm; outstripping Melbourne with $3,600 to $4,200 per sqm.

SEQ cost $4,490 to $5,640 per sqm; Perth $3,900 to $5,000 per sqm and Adelaide was $3,350 to $4,000.

Retail construction costs

Sydney and SEQ were the most expensive to deliver a medium standard suburban shopping centre costing $2,150 to $3,100 per sqm and $1,990 to $3,100 per sqm respectively; followed by Perth and Melbourne $2,200 to $2,500 per sqm; and Adelaide $2,000 to $2,350 per sqm.

Industrial construction costs

In the hot industrial market, rising land values and site availability are not the only concerns. Construction for warehouses of over 3,000 sqm has risen as $890 to $1,175 sqm in Sydney; Adelaide was $630 to $800 per sqm; Perth $700 to $880 per sqm; Melbourne $650 to $820 per sqm; and SEQ $750 to $1,040 per sqm.

Hotel construction costs

Meanwhile fitout for 5 star hotel was most expensive in SEQ costing between $82,800 to $120,000 per room whilst construction of a 5-star hotel ranged from $4,720 to $6,020. Sydney costs varied widely with fitout from $65,000 and $118,000 per room and construction starting $4,925 to $6,950 per sqm.

Melbourne, Perth and Adelaide costs were lower, with 5-star fitouts ranging from $60,000 to $80,000 per room and construction ranging from $4,500 to $5,400 per sqm.

Download the N&B Construction Costs Datacards sector-by-sector and city-by-city for Sydney; Melbourne; SEQ; Adelaide; and Perth.

CBRE research director Kate Bailey said price escalations should peak this year and moderate in 2023.

“While a sharp increase in construction costs is putting pressure on Australia’s development pipeline, margins and timelines, most cost escalations have now been built into project pricing, particularly for building materials, and further price increases will be more modest. While supply chain delays will persist, improvements are expected in early 2023 with cost increases from next year onwards to be largely driven by higher wage costs.” Bailey said.

CBRE’s report highlights that Australian price increases have been recorded across all key material and staffing indicators in the past 12 months, with the cost of structural steel increasing the most (+39.5% per tonne) followed by plasterboard (+35.3% per sqm). The cost of labour also spiked, with the average cost of a site foreman increasing by 11.5% per hour.

Perth and Brisbane are expected to experience the greatest year-on-year state construction cost increases in 2022, of 7% and 6% respectively.

Although factors such as global supply chain, recovery from COVID-19, shipping costs, interest rates, inflation, the geopolitical climate and energy crisis, labour shortages will remain in 2023, N&B’s Smith said with regard to the significant price increases in timber and steel, the firm believes the worst is over.

“We still expect some upward pressure on costs to continue in the short to medium term, with the market taking some time to assess that the rate of future price increases of significance are over or at least reduced,” he added.

“In summary, our general current cost escalation forecast for the 2022/2023 financial year is 8-10% for residential type construction (relating to timber framed buildings) and 6-8% for commercial construction. Of course… the project type and location will affect these expectations.” said Smith.

Meanwhile the latest International Construction Market Survey (ICMS) of 88 cities released by Turner & Townsend this week shows Australia has become the fourth most expensive region for construction labour globally, reaching an average of USD$75.5 per hour. Switzerland (USD$118.1) is the most expensive followed by Austria (USD$77.7) and the USA is placed third (USD$77.1).

However ICMS predicts the average construction cost inflation will fall from 8% this year to 5.5% next year – the lowest forecast rate for any global area.

Ranked at 36, Perth has become the most expensive market in Australia to build with an average cost of $2,822 per sqm, followed by Sydney (42) at $2,699 per sqm, Melbourne (44) is $2,666 per sqm, Brisbane (46) sits at $2,620.7 per sqm and Adelaide (50) is priced at $2,454.4 per sqm.

Globally, US cities dominate the rankings. San Francisco has become the most expensive city in the world in which to build with an average cost of $4,729 per sqm. The US accounts for four of the top ten most expensive markets, and nine of the top twenty. Japan and Switzerland also feature prominently. Tokyo ($4,665 per sqm) and Osaka ($4,559 per sqm) place second and third respectively with New York in fourth ($4,517 per sqm). Geneva ($4,332 per sqm) and Zurich ($4,286 per sqm) sit at fifth and sixth.

Turner & Townsend ANZ and Asia managing director Anooj Oodit said all markets in Australia are expected to get warmer over the next 12 months. Brisbane and Perth markets are currently hot, while Sydney, Melbourne and Adelaide are warm. Skills shortages, construction cost inflation and long lead times are some of the biggest challenges facing Australia’s construction market.

Market ‘temperatures’ – which measure pressure on local supply chains based on volume of demand and tendering conditions – also reflect an industry facing tough challenges. 38.6% of markets surveyed were classified as ‘hot’ or ‘overheating’ – where conditions are deemed at risk of acting as a brake on development. This is up from just 10.0% in 2021, while the number of ‘cold’ markets fell from six to only one.

Oodit said material shortages are also lengthening the anticipated project durations and increasing costs.

“A heated local market is exacerbated by strain on tier 1 and tier 2 builders due to COVID-19 and other financial pressures, which has led to less competitive market conditions.

“Rising material costs are postponing some projects as recent tender returns reflect higher steel and concrete prices, challenging the feasibility of both current and projects at the design stage.” Oodit said.

Despite the challenges for the construction industry, MaxCap’s Woodhouse said the rapid emergence of Roberts Co following the collapse of Probuild, shows market fundamentals still stack up.

Written by Nelson Nap
Australian Property Journal
5 July 2022

We take great pleasure in announcing that John Atkins will become a Director of Napier & Blakeley, effective from 1st July 2022.

John has been with us since 2017 when he joined as a Consultant. He’s liked by all and has grown to become a well-respected quantity surveyor, trusted advisor and leader.

With the continuing growth of our Victorian Development Advisory team, John will manage a growing number of key clients and instructions including development approval and feasibility cost estimates, financier reporting and cost consultancy services.

John will also join the leadership group, and will specifically assist with the on-boarding and development of our teams.

John’s new position will also support Craig Smith, who will move into the national leadership role for our Development Advisory services.

This appointment aligns directly with our strategic plan, to grow our business for the benefit of our clients and to provide user friendly, accurate and timely advice oriented to the commercial imperatives that matter.

Please contact John or Craig for any assistance or advice.

MELBOURNE
Rob Howells, Managing Director | 0437 649 082 | rhowells@napierblakeley.com
Peter Frith, Director | 0437 649 082 | pfrith@napierblakeley.com
Craig Smith, Director | 0407 371 664 | csmith@napierblakeley.com
Ian Gardner, Director | 0488 225 569 | igardner@napierblakeley.com
John Atkins, Director | 0456 644 052 | jatkins@napierblakeley.com

SYDNEY
Alastair Walker, Director | 0419 503 289 | awalker@napierblakeley.com
Peter Hammond, Director | 0419 980 901 | phammond@napierblakeley.com
Peter Osborn, Director | 0439 765 571 | posborn@napierblakeley.com
Michael Ross, National Head of Tax | 0403 841 175 | mross@napierblakeley.com
Stephen Cooke, Associate Director | 0409 228 552 | scooke@napierblakeley.com

BRISBANE
Paul Cosker, Director | 0434 400 107 | pcosker@napierblakeley.com
Adam Greene, Associate Director | 0409 724 395 | agreene@napierblakeley.com
Gavin Peach, Associate Director | 0412 225 781 | gpeach@napierblakeley.com
KY Pih, Associate | 0408 933 660 | kpih@napierblakeley.com

PERTH
Graham Rigby, Associate Director | 0419 847 998 | grigby@napierblakeley.com

ADELAIDE
Sam Grindley, Associate | 0460 032 142 | sgrindley@napierblakeley.com

The rise of e-commerce has driven major brands to expand their footprint and therefore leasing activity.  Vacancy rates are at all-time lows and major development work is underway to meet demand.  Several AREITS are continuing their growth in this asset class and Transaction volumes were up to $3.5 billion in 2020, from $2.3 billion in 2019 – as recently reported.

So, what makes the sector tick?  Here are some attributes and advantages of the sector from our perspective.

Construction and development advantages

• Over time construction costs in the sector have been less susceptible to escalation than other asset types.  This stability provides greater confidence to Developers when planning their next project.
• The speed of construction enables Developers to receive a return on their investment earlier than most other forms of development.
• Tried and tested construction techniques in the sector generally lead to less variations than other forms of construction.
• There are also tax depreciation benefits available to developers / investors upon project completion.

Investment advantages

• Typically, industrial & logistics properties are leased to a single tenant who has responsibility for repairs, maintenance and lease expiry make good obligations.
• Relatively low levels of capital expenditure are required during the lease term.
• There are good opportunities for environmental and social governance (ESG) initiatives.  Both new developments and building improvement projects are taking up energy efficient strategies such as photovoltaic solar systems, rainwater harvesting, zero ozone depleting refrigerant choices, high efficiency air conditioning, time and presence controls and metering.

The following projects represent some of our recent capabilities and expertise within the sector, where we have managed Cost, Risk & Return.

	Target Distribution Centre, Foundation Road Truganina VIC Independent Certifier, Development Monitoring & Quantity Surveying – 62,000m2 Client: ESR/CIP & Charter Hall		Toll Mars Distribution Centre, Midwest Logistics Hub, Truganina VIC Independent Certifier, Development Monitoring, Quantity Surveying & Tax Depreciation Assessment – 45,000m2 Client: Charter Hall
	Uniqlo Distribution Warehouse, Midwest Logistics Hub Truganina VIC Independent Certifier, Development Monitoring, Quantity Surveying & Tax Depreciation Assessment – 35,000m2 Client: Charter Hall		Mainfreight Epping, 107 Gateway Boulevard, Epping VIC Quantity Surveying – 45,000m2 Client: Mainfreight
	Drystone Industrial, Estate Truganina VIC Technical Due Diligence – 44,000m2 Client: GPT		Telstra Data Centre, Clayton VIC Acquisition/Divestment Technical Due Diligence - 3.2 hectare site Client: Telstra / Centuria
	Aldi Distribution Centre Portfolio Acquisition/Divestment Technical Due Diligence – 370,000m2 Client: Aldi / Charter Hall Allianz		99 Sandstone Place, Parkinson QLD Technical Due Diligence – 54,000m2 Client: DWS Group GmbH & Co
	338 Bradman Street, Acacia Ridge QLD Technical Due Diligence – 55,000m2 Client: Mapletree		Lot 30, 247-263 Greens Rd Dandenong South VIC Quantity Surveying & Tax Depreciation Assessment – 16,000m2 Client: Logis Property Investments
	Ceva Logistics, Truganina VIC Independent Certifier, Development Monitoring, Quantity Surveying – 36,000m2 Client: Frasers Property		Salta Properties Portfolio, Dandenong South VIC Quantity Surveying & Tax Depreciation Assessments – 4 industrial warehouses 25,000m2 Client: Salta Properties
	.
	7 Dursley Road, Yenora NSW Development Monitoring, Quantity Surveying and Tax Depreciation Assessments - 65,000m2 Client: Fife Capital		9-13 Cool Street, Forestville NSW Development Monitoring and Quantity Surveying - 9,000m2 Client: Trumen Corp Pty Ltd
	8 Narabang Way, Belrose NSW Development Monitoring and Quantity Surveying - 4,000m2 Client: Life Property Group		50 Elwell Close, Beresfield NSW Development Monitoring, Quantity Surveying and Tax Depreciation Assessments - 8,000m2 Client: Hobson Holdings Pty Ltd

Please do not hesitate to call any of the people below to discuss your requirements: 

MELBOURNE
Rob Howells, Managing Director |  0437 649 082  |  rhowells@napierblakeley.com
Craig Smith, Director |  0407 371 664  |  csmith@napierblakeley.com
John Mathew, Director  |  0414 559 326  |  jmathew@napierblakeley.com 
Ian Gardner, Associate Director  |  0488 225 569  |  igardner@napierblakeley.com

SYDNEY
Alastair Walker, Director  |  0419 503 289  |  awalker@napierblakeley.com
Peter Hammond, Director  |  0419 980 901  |  phammond@napierblakeley.com
Peter Osborn, Director  |  0439 765 571  |  posborn@napierblakeley.com
Stephen Cooke, Associate Director  |  0409 228 552  |  scooke@napierblakeley.com

BRISBANE
Adam Greene, Associate Director  |  0409 724 395  |  agreene@napierblakeley.com
Paul Cosker, Associate Director  |  0434 400 107  |  pcosker@napierblakeley.com
Gavin Peach, Associate Director  |  0412 225 781  |  gpeach@napierblakeley.com
KY Pih, Associate  |  0408 933 660  |  kpih@napierblakeley.com

PERTH
Graham Rigby, Associate Director  |  0419 847 998  |  grigby@napierblakeley.com 
Jorden Morris, Quantity Surveyor  |  0457 001 545  |  jmorris@napierblakeley.com

Sydney

Melbourne

South East Queensland

Adelaide

Perth

Our Quantity Surveying team is able to provide the following services for your projects:

• Cost Planning, Cost Control & Value Management
• Reporting to the Project Financier (we are accepted by all major lending institutions)
• Bills of Quantities and Contract Administration
• Capital Expenditure Forecasting for Property Owners
• Maintenance Reserve and Capital Replacement Funds Forecasting
• Insurance Replacement Cost Assessments
• Tax Depreciation

Contact us for a datacard hard copy or for any other Napier & Blakeley service.

Do not hesitate to call us to discuss your project.

For further information on our Development Advisory & Quantity Surveying services please contact our team here:

MELBOURNE
Craig Smith, Director |  0407 371 664  |  csmith@napierblakeley.com
Andrew Stewart, Associate Director  |  0448 099 651  |  astewart@napierblakeley.com

SYDNEY
Peter Hammond, Director  |  0419 980 901  |  phammond@napierblakeley.com
Brian Gavahan, Associate Director  |  0414 620 213  |  bgavahan@napierblakeley.com

BRISBANE
Adam Greene, Associate Director  |  0409 724 395  |  agreene@napierblakeley.com
Paul Cosker, Associate Director  |  0434 400 107  |  pcosker@napierblakeley.com

PERTH
Jorden Morris, Quantity Surveyor  |  0457 001 545  |  jmorris@napierblakeley.com

Our National Quantity Surveying Teams have experience in all sectors of the property market, including Senior Living, Retirement and Aged Care developments.

This sector of the construction market continues to grow and the quality of the design & services offered by the facilities is also increasing. Therefore, the involvement of the Napier & Blakeley Quantity Surveying team during the design & construction phase is critical to deliver desired project budget & construction cashflow outcomes.

Our Quantity Surveying team are able to provide the following services for your projects:

• Cost Planning/Estimating, Cost Control & Value Management;
• Reporting to the Project Financier (we are accepted by all major lending institutions);
• Independent Certifier;
• Bills of Quantities;
• Contract Administration services;
• Insurance Replacement Cost Assessments;
• Capital Expenditure Forecasting for Property Owners;
• Property Tax Depreciation; and
• Maintenance Reserve & Capital Replacement Funds Forecasting.

We also thought you might like to hear about some of the projects we’ve recently advised on:

If you would like some benchmarking of your project please access this link and download a copy of our Senior Living, Retirement & Aged Care Consultancy Services Datacard.

Alternatively do not hesitate to call us to discuss your project:

MELBOURNE
Craig Smith, Director |  0407 371 664  |  csmith@napierblakeley.com
Andrew Stewart, Associate Director  |  0448 099 651  |  astewart@napierblakeley.com

SYDNEY
Peter Hammond, Director  |  0419 980 901  |  phammond@napierblakeley.com
Brian Gavahan, Associate Director  |  0414 620 213  |  bgavahan@napierblakeley.com

BRISBANE
Adam Greene, Associate Director  |  0409 724 395  |  agreene@napierblakeley.com
Paul Cosker, Associate Director  |  0434 400 107  |  pcosker@napierblakeley.com

PERTH
Jorden Morris, Quantity Surveyor  |  0457 001 545  |  jmorris@napierblakeley.com

There have been so many emails about the world’s current situation and so we’re not going to tell you anything that y

Napier & Blakeley are working remotely in the new usual and a lot of our people have been doing this for a long time because of the nature of our work.

We have known and worked with a lot of you for a long time and we understand that, at the moment, not everyone is able to work, or do deals or just do things normally for a variety of reasons, including running your businesses here from outside Australia. 

We continue to operate and have our full national contingent of people ready to assist you with things that you may still require to be done, inspections, audits, transaction services, construction and development issues, insurance costs and depreciation advice and schedules.

Our industry is one where great people abound, and our people, our clients and our many friends in the property and development industries are all important to us and we will strive to look after and help everyone as best we can.

There has always been fantastic camaraderie amongst us all and we all want that to continue in the future, but we know that circumstances at the moment are creating incredible anxiety across the whole country with our staff, our clients and our friends in the marketplace, and not just them personally, but for their families and friends as well.

There is nothing we can say to change that other than that we have a collective role to get this right again, and to get back to where we can meet again, interact again and share a drink again, and we really look forward to that.

So we are here to help and you can contact anyone at Napier & Blakeley directly as usual, or at info@napierblakeley.com

Kind regards

Alastair Walker
Managing Director
Napier & Blakeley

SYDNEY Alastair Walker Managing Director o.  02 9299 1899 m. 0419 503 289 e. awalker@napierblakeley.com	MELBOURNE Craig Smith Director o.  03 9915 6300 m. 0407 371 664 e.  csmith@napierblakeley.com
.
SYDNEY Peter Osborn Director o.  02 9299 1899 m. 0439 765 571 e. posborn@napierblakeley.com	MELBOURNE John Mathew Director o.  03 9915 6300 m. 0414 559 326 e.  jmathew@napierblakeley.com
.
SYDNEY Peter Hammond Director o.  02 9299 1899 m. 0419 980 901 e.  phammond@napierblakeley.com	MELBOURNE Rob Howells National Director o.  03 9915 6300 m. 0437 649 082 e.  rhowells@napierblakeley.com
.
BRISBANE Paul Mazoletti National Director o.  07 3221 8255 m. 0408 749 202 e.  pmazoletti@napierblakeley.com	PERTH Graham Rigby Associate Director o.  08 6244 1877 m. 04419 847 998 e.  grigby@napierblakeley.com

Introducing Damian Beadel

m. 0427 053 676
e.  dbeadel@napierblakeley.com

Damian Beadel has joined our Melbourne Quantity Surveying team as Senior Associate.

Commencing in the construction industry in 2004, Damian has 15 years of international experience in a Quantity Surveying, Contract Administration and Project Management capacity.

With a high technical knowledge, Damian has extensive experience working on a variety of projects including multi-level apartments, retail, commercial, luxury residential and faith buildings.

Damian has substantial market experience across:

• project financier reporting;
• bills of quantities;
• estimating and cost planning;
• cost management and reporting;
• value engineering;
• contract administration;
• tender evaluation;
• project management, and
• expert witness.

Promotion for John Atkins

m. 0456 644 052
e.  jatkins@napierblakeley.com

We are pleased to announce that John has been promoted to Associate in our Melbourne Quantity Surveying team.

John commenced his career in construction and property in 2011, gaining experience in both the UK and Australia.

During this time, John has gained experience in a range of sectors including residential, commercial, industrial, aged care, medical and child care.

John provides our clients with services including:        

• project financier reporting;
• estimating and cost planning;
• contract administration;
• procurement and tendering;
• feasibility studies, and
• superintendent.

For 34 years Napier & Blakeley have been providing the following services to the property industry:

• Property Acquisition & Disposal Technical Due Diligence
• Property Development Due Diligence
• Quantity Surveying
• Capital Expenditure Forecasting
• Make Good Reporting
• Energy Management
• Development Monitoring
• Property Tax Depreciation

Please contact any of the people below for more information or assistance:

MELBOURNE Craig Smith Director o.  03 9915 6300 m. 0407 371 664 e.  csmith@napierblakeley.com	SYDNEY Alastair Walker Managing Director o.  02 9299 1899 m. 0419 503 289 e. awalker@napierblakeley.com
.
MELBOURNE John Mathew Director o.  03 9915 6300 m. 0414 559 326 e.  jmathew@napierblakeley.com	SYDNEY Peter Osborn Director o.  02 9299 1899 m. 0439 765 571 e. posborn@napierblakeley.com
.
MELBOURNE Rob Howells National Director o.  03 9915 6300 m. 0437 649 082 e.  rhowells@napierblakeley.com	SYDNEY Peter Hammond Director o.  02 9299 1899 m. 0419 980 901 e.  phammond@napierblakeley.com
.
BRISBANE Paul Mazoletti National Director o.  07 3221 8255 m. 0408 749 202 e.  pmazoletti@napierblakeley.com	PERTH Graham Rigby Associate Director o.  08 6244 1877 m. 04419 847 998 e.  grigby@napierblakeley.com

There is an appetite for land mark commercial office towers particularly for international investors and more recently, local organisations. Internationals are also entering into joint venture agreements with local groups for the both existing assets and for ‘fund through’ developments.

These large and more complex transactions together with changes in the global investment environment have seen expansion of the technical due diligence scope.

Investors increasingly see value in environmental social governance, and technical due diligence is now used to assess sustainability performance, climate related risk and the subject building’s resilience to climate events.

The adaptability of the buildings is important in terms of future occupation densities, work place practices, wellbeing and the communications and information technologies required for occupation and for appropriate facilities management.

Napier & Blakeley is proud to be at the forefront of such service advancement and to facilitate transactions for our clients through due diligence.

The Napier’s way:

Independence - being independent from the transaction process our reporting is accepted by all parties and stakeholders.

Responsiveness and Commerciality – our national team mobilises and responds quickly and reports progressively on the things that actually matter.

Knowledgeable - the breadth and depth of our technical expertise together with our cost consultancy and tax depreciation advisory helps to translate the physical risks and opportunities to financial assessment, feasibility studies and cash flow analysis.

Connected – beyond our national team we have strong relationships with industry, including specialist sub consultants who are leaders in their field.

Adding Value - beyond the transaction process we add further value with asset and facilities advisory, aligning the performance of the property with the aims of the fund manager, asset manager and facilities manager.

With existing buildings this can include compliance management, improvement plans and NABERS and carbon neutral roadmaps. With new developments this can include consideration of facility management requirements at the design stage to reduce future maintenance costs and optimise lifecycle costing; independent certification during construction and handover management.

Some of our recent experience includes the following transactions:

Please contact any of the people below for further  assistance :

For 34 years Napier & Blakeley have been providing the following services to the property industry:

• Property Acquisition & Disposal Technical Due Diligence
• Property Development Due Diligence
• Quantity Surveying
• Capital Expenditure Forecasting
• Make Good Reporting
• Energy Management
• Development Monitoring
• Property Tax Depreciation

Please contact any of the people below for more information or assistance:

 SYDNEY

MELBOURNE

BRISBANE

 PERTH

ADELAIDE

Do you own or have you bought an investment property in the past financial year?

Or…  have you recently refurbished, altered or extended your investment property in the past financial year?

Or…   do you own an investment property but have never claimed depreciation in the past?

Or…  own any property including commercial, retail, industrial, residential, pubs, clubs, sporting – we are experts in them all.

If your answer is yes to any of these questions then you may very well be paying too much tax on your income if you don’t claim your depreciation deductions.

Property tax allowances (commonly known as depreciation) provide an opportunity for owners of income producing property to reduce their taxable income, thus reducing the tax payable.

Napier & Blakeley was the first Australian company to provide specialist property depreciation services with dedicated in-house specialists to identify all available deductions throughout the life cycle of your asset.

Don’t waste any more of your money, request a quote today or contact us to get advice on how a depreciation schedule can strengthen the return on your investment putting more money in your pocket.

Please contact any of the people below for further assistance :

	BRISBANE Paul Mazoletti National Director o.  07 3221 8255 m. 0408 749 202 e.  pmazoletti@napierblakeley.com		SYDNEY Peter Osborn Director o.  02 9299 1899 m. 0439 765 571 e.  posborn@napierblakeley.com
	BRISBANE Kath Hemphill National Residential Manager o.  1300 730 382 m. 0409 722 709 e. khemphill@napierblakeley.com		MELBOURNE John Mathew Director o.  03 9915 6300 m. 0414 559 326 e.  jmathew@napierblakeley.com

For 34 years Napier & Blakeley have been providing the following services to the property industry:

• Property Acquisition & Disposal Technical Due Diligence
• Property Development Due Diligence
• Quantity Surveying
• Capital Expenditure Forecasting
• Make Good Reporting
• Energy Management
• Development Monitoring
• Property Tax Depreciation

Please contact any of the people below for more information or assistance:

SYDNEY

	Alastair Walker Managing Director m. 0419 503 289 e.  awalker@napierblakeley.com		Peter Hammond Director m. 0419 980 901 e.  phammond@napierblakeley.com
	Peter Osborn Director m. 0439 765 571 e.  posborn@napierblakeley.com		Stephen Cooke Associate Director m. 0409 228 552 e.  scooke@napierblakeley.com

MELBOURNE

	Craig Smith Director m. 0407 371 664 e.  csmith@napierblakeley.com		Rob Howells National Director m. 0437 649 082 e.  rhowells@napierblakeley.com
	John Mathew Director m. 0414 559 326 e.  jmathew@napierblakeley.com		Ian Gardner Associate Director m. 0488 225 569 e.  igardner@napierblakeley.com
	Richard McOmish Associate Director m. 0409 478 460 e.  rmcomish@napierblakeley.com

BRISBANE

	Paul Mazoletti National Director m. 0408 749 202 e.  pmazoletti@napierblakeley.com		Gavin Peach Associate Director m. 0412 225 781 e.  gpeach@napierblakeley.com
	Adam Greene Associate Director m. 0409 724 395 e.  agreene@napierblakeley.com		Paul Cosker Associate Director m. 0434 400 107 e.  pcosker@napierblakeley.com

PERTH

	Graham Rigby Associate Director m. 0419 847 998 e.  grigby@napierblakeley.com		Nick Taylor Senior Associate m. 0418 337 225 e.  ntaylor@napierblakeley.com

ADELAIDE

John Mathew Director m. 0414 559 326 e.  jmathew@napierblakeley.com

Or…  have you recently refurbished, altered or extended your investment property in the past financial year?

Or…   do you own an investment property but have never claimed depreciation in the past?

Or…  own any property including commercial, retail, industrial, residential, pubs, clubs, sporting – we are experts in them all.

If your answer is yes to any of these questions then you may very well be paying too much tax on your income if you don’t claim your depreciation deductions.

Property tax allowances (commonly known as depreciation) provide an opportunity for owners of income producing property to reduce their taxable income, thus reducing the tax payable.

Napier & Blakeley was the first Australian company to provide specialist property depreciation services with dedicated in-house specialists to identify all available deductions throughout the life cycle of your asset.

Don’t waste any more of your money, request a quote today or contact us to get advice on how a depreciation schedule can strengthen the return on your investment putting more money in your pocket.

Please contact any of the people below for further assistance :

	BRISBANE Paul Mazoletti National Director o.  07 3221 8255 m. 0408 749 202 e.  pmazoletti@napierblakeley.com		SYDNEY Peter Osborn Director o.  02 9299 1899 m. 0439 765 571 e.  posborn@napierblakeley.com
	BRISBANE Kath Hemphill National Residential Manager o.  1300 730 382 m. 0409 722 709 e. khemphill@napierblakeley.com		MELBOURNE John Mathew Director o.  03 9915 6300 m. 0414 559 326 e.  jmathew@napierblakeley.com

For 34 years Napier & Blakeley have been providing the following services to the property industry:

• Property Acquisition & Disposal Technical Due Diligence
• Property Development Due Diligence
• Quantity Surveying
• Capital Expenditure Forecasting
• Make Good Reporting
• Energy Management
• Development Monitoring
• Property Tax Depreciation

Please contact any of the people below for more information or assistance:

SYDNEY

	Alastair Walker Managing Director m. 0419 503 289 e.  awalker@napierblakeley.com		Peter Hammond Director m. 0419 980 901 e.  phammond@napierblakeley.com
	Peter Osborn Director m. 0439 765 571 e.  posborn@napierblakeley.com		Stephen Cooke Associate Director m. 0409 228 552 e.  scooke@napierblakeley.com

MELBOURNE

BRISBANE

PERTH

ADELAIDE